June Trade Gap is $42.9 Billion

The U.S. monthly international trade deficit decreased in June 2012, according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $48.0 billion (revised) in May to $42.9 billion in June, as exports increased and imports decreased. The previously published May deficit was $48.7 billion. The goods deficit decreased $5.4 billion from May to $57.5 billion in June, and the services surplus decreased $0.3 billion to $14.6 billion.

Exports of goods and services increased $1.7 billion in June to $185.0 billion, reflecting an increase in exports of goods. Exports of services decreased.

The increase in exports of goods was more than accounted for by increases in consumer goods; automotive vehicles, parts, and engines; and industrial supplies and materials. A decrease in foods, feeds, and beverages was partly offsetting.

The decrease in exports of services was mostly accounted for by decreases in other private services, which includes items such as business, professional, and technical services; insurance services; and financial services, and other transportation, which includes freight and port services. Changes in the other categories of services exports were small.

Imports of goods and services decreased $3.5 billion in June to $227.9 billion, reflecting a decrease in imports of goods. Imports of services increased.

The decrease in imports of goods was more than accounted for by decreases in industrial supplies and materials, capital goods, and consumer goods. An increase in automotive vehicles, parts, and engines was partly offsetting.

The increase in imports of services was mostly accounted for by an increase in passenger fares. Changes in the other categories of services imports were small.

The goods deficit with China increased from $26.0 billion in May to $27.4 billion in June. Exports decreased $0.4 billion to $8.5 billion, while imports increased $1.0 billion to $35.9 billion.

The goods deficit with the European Union decreased from $10.5 billion in May to $8.4 billion in June. Exports increased $0.4 billion to $23.3 billion, while imports decreased $1.7 billion to $31.7 billion.

To learn more about U.S. international trade in goods and services, read the full report.